California Public Employees Retirement System Grows Holdings in Olin Co. (OLN)

California Public Employees Retirement System raised its stake in Olin Co. (NYSE:OLN) by 6.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 438,418 shares of the specialty chemicals company’s stock after purchasing an additional 24,733 shares during the quarter. California Public Employees Retirement System’s holdings in Olin were worth $10,145,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Olin by 4.2% in the fourth quarter. BlackRock Inc. now owns 19,355,169 shares of the specialty chemicals company’s stock valued at $389,232,000 after purchasing an additional 787,982 shares during the period. Vanguard Group Inc raised its position in Olin by 1.3% in the third quarter. Vanguard Group Inc now owns 15,522,700 shares of the specialty chemicals company’s stock valued at $398,623,000 after purchasing an additional 198,463 shares during the period. FMR LLC raised its position in Olin by 34.8% in the fourth quarter. FMR LLC now owns 12,378,867 shares of the specialty chemicals company’s stock valued at $248,939,000 after purchasing an additional 3,196,273 shares during the period. Dimensional Fund Advisors LP raised its position in Olin by 18.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,338,344 shares of the specialty chemicals company’s stock valued at $107,351,000 after purchasing an additional 844,972 shares during the period. Finally, Macquarie Group Ltd. raised its position in Olin by 2.4% in the fourth quarter. Macquarie Group Ltd. now owns 4,037,707 shares of the specialty chemicals company’s stock valued at $81,198,000 after purchasing an additional 93,736 shares during the period. 93.46% of the stock is currently owned by institutional investors.

Several research analysts have commented on the company. Cowen reissued an “outperform” rating and issued a $32.00 price objective on shares of Olin in a research report on Wednesday, February 6th. ValuEngine raised Olin from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Nomura raised Olin from a “reduce” rating to a “neutral” rating and raised their price objective for the company from $22.00 to $25.00 in a research report on Monday, April 15th. Alembic Global Advisors began coverage on Olin in a research report on Monday, April 22nd. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, KeyCorp began coverage on Olin in a research note on Monday, January 28th. They set an “overweight” rating and a $30.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Olin has an average rating of “Hold” and an average price target of $29.33.

In other news, Director Scott Mcdougald Sutton purchased 7,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $21.02 per share, for a total transaction of $147,140.00. Following the completion of the purchase, the director now owns 22,000 shares of the company’s stock, valued at $462,440. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John L. Mcintosh sold 10,500 shares of Olin stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $21.74, for a total value of $228,270.00. Following the completion of the transaction, the executive vice president now owns 100,812 shares of the company’s stock, valued at $2,191,652.88. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Shares of Olin stock opened at $21.49 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.48 and a quick ratio of 0.85. The stock has a market cap of $3.75 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53. Olin Co. has a 1-year low of $17.87 and a 1-year high of $33.94.

Olin (NYSE:OLN) last announced its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.69 billion. Olin had a net margin of 5.14% and a return on equity of 11.12%. The firm’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. On average, analysts predict that Olin Co. will post 1.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.72%. Olin’s dividend payout ratio is presently 45.71%.

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Olin Profile

Olin Corporation manufactures and distributes chemical products in the United States and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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